Trend Exhaustion

Trend Exhaustion

OVERVIEW   The U.S. stock market bounced back last week, with the S&P 500 gaining 1.16%, the Dow rising 0.94%, and the Nasdaq jumping 2.06%. The S&P 600 index of small-cap stocks led the way, gaining 2.12%, while large-cap stocks rose 1.14%. Growth stocks...
Then and Now

Then and Now

  This week’s featured chart shows the performance of the S&P 500 stock index around the start of new cyclical bull markets. There have been 15 new cyclical bull markets (including the current one) over the past 50 years. Each line on the chart represents the...
In Breadth We Thrust

In Breadth We Thrust

  You can describe the idea of a “thrust” in numerous ways. A sudden or violent lunge comes to mind, like the propulsive force produced by a rocket or a jet plane. But in the world of finance, we have a more technical definition: a lot of stocks going up in a...